SHYG.L vs. FLOA.L
SHYG.L (iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist)) and FLOA.L (iShares USD Floating Rate Bond UCITS ETF USD (Acc)) are both exchange-traded funds - SHYG.L is a European High Yield Bonds fund tracking the Bloomberg Pan Euro HY Euro TR EUR, while FLOA.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 5 years, SHYG.L returned 2.55%/yr vs 4.78%/yr for FLOA.L. At a 0.21 correlation, their price movements are largely independent. SHYG.L charges 0.50%/yr vs 0.10%/yr for FLOA.L.
Performance
SHYG.L vs. FLOA.L - Performance Comparison
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Different Trading Currencies
SHYG.L is traded in GBP, while FLOA.L is traded in USD. To make them comparable, the FLOA.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SHYG.L achieves a -1.50% return, which is significantly lower than FLOA.L's 2.46% return.
SHYG.L
- 1D
- 0.06%
- 1M
- -1.75%
- 6M
- -0.71%
- YTD
- -1.50%
- 1Y
- 1.30%
- 3Y*
- 5.85%
- 5Y*
- 2.55%
- 10Y*
- 3.18%
FLOA.L
- 1D
- 0.00%
- 1M
- -1.10%
- 6M
- 1.40%
- YTD
- 2.46%
- 1Y
- 4.13%
- 3Y*
- 4.41%
- 5Y*
- 4.78%
- 10Y*
- —
SHYG.L vs. FLOA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SHYG.L iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | -1.50% | 10.52% | 0.97% | 9.30% | -4.42% | -3.69% | 6.61% | 4.45% | -0.97% |
FLOA.L iShares USD Floating Rate Bond UCITS ETF USD (Acc) | 2.63% | -2.58% | 8.28% | 1.32% | 13.40% | 1.37% | -2.10% | 0.21% | 11.95% |
Correlation
The correlation between SHYG.L and FLOA.L is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2018 | 0.21 |
The correlation between SHYG.L and FLOA.L shifts across timeframes, from 0.09 (3 years) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SHYG.L vs. FLOA.L — Risk / Return Rank
SHYG.L
FLOA.L
SHYG.L vs. FLOA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (SHYG.L) and iShares USD Floating Rate Bond UCITS ETF USD (Acc) (FLOA.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SHYG.L | FLOA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.11 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 0.83 | -0.49 |
| Martin ratioReturn relative to average drawdown | 1.01 | 2.32 | -1.31 |
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Drawdowns
SHYG.L vs. FLOA.L - Drawdown Comparison
The maximum SHYG.L drawdown since its inception was -22.97%, which is greater than FLOA.L's maximum drawdown of -14.83%. Use the drawdown chart below to compare losses from any high point for SHYG.L and FLOA.L.
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Drawdown Indicators
| SHYG.L | FLOA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.97% | -14.83% | -8.14% |
Max Drawdown (1Y)Largest decline over 1 year | -3.78% | -4.95% | +1.17% |
Max Drawdown (3Y)Largest decline over 3 years | -3.78% | -9.63% | +5.85% |
Max Drawdown (5Y)Largest decline over 5 years | -15.33% | -14.83% | -0.50% |
Max Drawdown (10Y)Largest decline over 10 years | -22.97% | — | — |
Current DrawdownCurrent decline from peak | -2.25% | -3.25% | +1.00% |
Average DrawdownAverage peak-to-trough decline | -5.20% | -5.92% | +0.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.28% | 1.77% | -0.49% |
Volatility
SHYG.L vs. FLOA.L - Volatility Comparison
The current volatility for iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (SHYG.L) is 1.09%, while iShares USD Floating Rate Bond UCITS ETF USD (Acc) (FLOA.L) has a volatility of 1.70%. This indicates that SHYG.L experiences smaller price fluctuations and is considered to be less risky than FLOA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYG.L | FLOA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 1.70% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 3.83% | 5.21% | -1.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.80% | 6.89% | -2.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.93% | 8.65% | -1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.39% | 9.23% | -0.84% |
SHYG.L vs. FLOA.L - Expense Ratio Comparison
SHYG.L has a 0.50% expense ratio, which is higher than FLOA.L's 0.10% expense ratio.
Dividends
SHYG.L vs. FLOA.L - Dividend Comparison
SHYG.L's dividend yield for the trailing twelve months is around 6.61%, while FLOA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLOA.L iShares USD Floating Rate Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHYG.L iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | 6.61% | 5.31% | 6.24% | 5.39% | 3.58% | 3.13% | 3.66% | 3.86% | 3.65% | 3.74% | 3.83% | 4.55% |
Frequently Asked Questions
SHYG.L and FLOA.L have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLOA.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLOA.L is cheaper with a 0.10% expense ratio, compared with 0.50% for SHYG.L.
SHYG.L is categorized as European High Yield Bonds, while FLOA.L is Corporate Bonds. SHYG.L tracks Bloomberg Pan Euro HY Euro TR EUR, while FLOA.L tracks Bloomberg US Corp Bond TR USD. Their fees differ too: 0.50% for SHYG.L and 0.10% for FLOA.L.
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